Hsbc Holdings PLC Invests $6.20 Million in United Parks & Resorts Inc. $PRKS

Key Points

• Hsbc Holdings PLC has acquired a new stake in United Parks & Resorts Inc., purchasing 140,443 shares valued at approximately $6.2 million, representing 0.26% ownership of the company.
• Multiple institutional investors, including Pinnacle Wealth Management and QRG Capital Management, have also increased their holdings in United Parks & Resorts, reflecting growing interest in the company's stock.
• Analysts have mixed views on the stock, with price targets ranging from $49.00 to $67.00; the consensus rating is currently a "Hold" with a target price of $56.91.

Hsbc Holdings PLC purchased a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 140,443 shares of the company's stock, valued at approximately $6,204,000. Hsbc Holdings PLC owned 0.26% of United Parks & Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. increased its holdings in shares of United Parks & Resorts by 1.2% during the first quarter. Raymond James Financial Inc. now owns 545,638 shares of the company's stock worth $24,805,000 after purchasing an additional 6,544 shares during the period. Fox Run Management L.L.C. increased its stake in United Parks & Resorts by 185.2% during the 1st quarter. Fox Run Management L.L.C. now owns 11,912 shares of the company's stock worth $542,000 after acquiring an additional 7,735 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in United Parks & Resorts during the 1st quarter worth $31,000. Nuveen LLC bought a new position in United Parks & Resorts during the 1st quarter worth $6,191,000. Finally, Invesco Ltd. increased its stake in United Parks & Resorts by 31.0% during the 1st quarter. Invesco Ltd. now owns 73,148 shares of the company's stock worth $3,325,000 after acquiring an additional 17,291 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PRKS. Stifel Nicolaus decreased their price target on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Zacks Research raised shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Guggenheim decreased their target price on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Barclays decreased their target price on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Finally, Morgan Stanley decreased their price objective on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and an average target price of $56.91.

United Parks & Resorts Stock Performance

Shares of United Parks & Resorts stock traded up $0.92 during midday trading on Friday, hitting $52.48. 535,509 shares of the company traded hands, compared to its average volume of 931,070. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 14.03 and a beta of 1.34. The firm's fifty day moving average price is $49.51 and its 200-day moving average price is $47.42. United Parks & Resorts Inc. has a 12 month low of $37.68 and a 12 month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.31). The company had revenue of $490.21 million for the quarter, compared to the consensus estimate of $505.20 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Equities research analysts forecast that United Parks & Resorts Inc. will post 3.95 earnings per share for the current year.

United Parks & Resorts Profile

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.